Autoblog

Today's lame-duck Congressional meeting is going to be an important one for Detroit automakers, with House Democrats working on a $25 billion bailout proposal. Passion is high on both sides of the bailout argument, and Democrats are looking to toughen up a bill to help gain crucial votes needed for passage. Among the items being discussed is a taxpayer stake in any assisted automaker, additional restructuring and stiff restrictions on executive pay.

House Republican Richard Shelby is one of many leaders likely to vote against the bill no matter what stipulations are added. The Alabama Republican called Detroit Automakers "dinosaurs" that need to start over. He also called for management to go, but he stated that he wouldn't support a bill even if they did. Michigan Democrat Senator Carl Levin suggested that if GM CEO Rick Wagoner had to step down to guarantee aid, he should consider it. GM is pleading for a bridge loan both in Washington and on YouTube, where the automaker released a four-minute video explaining the importance of its industry.

President-Elect Barak Obama also chimed in on the automaker bailout situation on 60 Minutes Sunday, stating that the loss of Detroit Automakers would be a disaster for the country. Obama also insisted that any loan can't be a "blank check," and that industry leaders, labor, suppliers, lenders, and stakeholders needed to agree on a long term solution that shows that loans aren't merely delaying the domestic industry's demise.

[Source: Automotive News - Sub. Req.]

Now that the domestic industry is in dire need of cash, the American taxpayer is being bombarded with facts and figures purporting to show just how vital the industry is for the health of the overall economy. Hundreds of thousands of jobs at the automakers, millions more from suppliers and dealers -- the numbers seem to change each time, but they're always substantial. Problem is, it seems only GM and Ford ever get quoted, so Chrysler went ahead and whipped up its own little video. Hit the jump to view Chrysler's 2:42 docudrama filled with still more numbers touting the industry's importance. For example, active Ford, GM, and Chrysler employees make $22 billion per year in salaries, and the three companies pay $21 billion in retirement and health care costs. Chrysler also states that the amount of people whose wages depend on autos either directly or indirectly are equal to the population of South Carolina.

[Source: YouTube]

The US Congress is contemplating a bailout of $25 billion or more for US automakers, and the European Union is watching closely. European Commission President, Jose Manuel Barroso, told Europe 1 Radio that he is prepared to rat out the US government to the World Trade Organization if the EU considers the bailout illegal.

Barroso wants to look over any aid package to determine if it's "illegal state aid." European new car registrations are down 14.5% in recent months, and we're guessing the EU wants to ensure that any relief the US government may give domestic automakers doesn't afford them an unfair advantage overseas. We aren't exactly sure what the WTO could do to stop aid to the domestics, and it would likely be difficult to prove that state aid would help US automakers in Europe, especially since Ford and GM's biggest issues are here at home.

[Source: Automotive News - Sub. Req. | Photo: Dominique Faget/Getty]

Toyota has been scrambling to right its financial ship after cutting its profit forecast by 63% in the face of dismal US auto sales. The Japanese automaker set up an emergency committee to look at areas to cut costs, and all programs are said to be on the table. Though Toyota has announced nothing specific to this point, Japan's Nikkei Business Daily is announcing that the first US-built Priuses may not be produced until 2011. That would mean a one year delay of the opening of Toyota's Mississippi plant, which has already seen a product shift and cost overruns. The new 2010 Prius, which will initially only be built in Japan until the Mississippi plant comes online, is scheduled to be unveiled at the Detroit Auto Show in January.

Toyota is currently denying that Prius production at the Mississippi plant has been delayed. We're a bit skeptical of the Nikkei report anyway considering the Prius is still in high demand despite the economic downturn.


[Source: Reuters Associated Press]

After months of reviewing only family-oriented transportation, this particular blogger began a streak of judging high-horsepower sports coupes. It's damn near impossible to complain about something with more power than anyone should ever need, but after a while my family got tired of trying to shoehorn five-year-old twins into the cramped back seat of a coupe. That's why we were most relieved to see that the 2009 Chevy Traverse was ready for a run in the Autoblog Garage.

The Traverse is the latest though maybe not last Lambda crossover, and since it dons General Motors' high volume Bow Tie badging, it's likely the most significant, as well. It is GM's least expensive eight-passenger crossover while also carrying the distinction of being the most efficient and most powerful Lambda. Does that make the Traverse the best of GM's Lambda litter? We took on the massive people hauler for a week to find out for ourselves.


Photos copyright ©2008 Chris Shunk/Weblogs, Inc.

IndyCar great Helio Castroneves is in the legal fight of his life, and the timing couldn't be worse (like seven felony counts ever come at a good time). Castroneves goes on trial for tax evasion charges on March 2 in Miami, just one month before the IndyCar season begins in St. Petersberg, Florida.

Castroneves was indicted by the IRS on October 2 along with his sister/business manager and his lawyer, and the list of charges is substantial. Castroneves is going up against six tax evasion counts and one count of conspiracy with up to 35 years of jail time. Team Penske would undoubtedly love for the two-time Indy 500 champ to be free and clear of these allegations, but the successful race team is in a holding pattern due to its star racer's quandary. Helio's fame from racing and Dancing with the Stars will turn the case into a very big deal, and the courts will handle the case as such. That could mean a very lengthy trial for Helio and his crew, and a potentially embarrassing situation for Team Penske.

[Source: Auto Week | Image: Robert Cianflone/Getty]

The massive-looking NV2500 concept scheduled to be unveiled at the Detroit Auto Show this January signals Nissan's interest in the commercial vehicle market. A quick glance at the trademark website shows that the hulking Nissan won't be alone if it ever hits the market. Mike Levine over at Pickuptrucks.com put his Sherlock Holmes hat on and discovered that Nissan also had the names NV1500 and NV3500 earmarked for potential use. The Japanese automaker has a similar naming convention for pickups, too.

The trademark site shows that Nissan also purchased NP1500 through NP5500. The NP stands for Nissan Pickup, and the trademark site specifically mentions that vehicles with the NP designation are for use with pickup trucks. Could NV and NP be the new naming scheme for Nissan trucks and vans? Does the NP1500 mean that the Titan name is heading out to pasture? We don't know for sure, but since we're quickly approaching auto show season, we could well find out soon enough.

[Source: Pickuptrucks]

We're always up for a new 3-Series, and a performance variant straight from the manufacturer is even better. It looks like a new Bimmer is forthcoming from BMW performance, and the post-jump YouTube video shows just enough to keep us intrigued. We can catch a few details, and from what we can see and hear, this new performance Bimmer sedan will likely be faster and lighter than the standard 3. What it doesn't look like is an upgraded M3, as the front air dam isn't as large or aggressive as its M-powered sibling and it's lacking the M's quad-tip exhausts. What we do see is BMW Performance badging, carbon fiber side mirrors, and plenty of plastic molding to keep the souped-up 3-Series closer to the ground. BMW did mention that we'd see the new Performance 3-Series in its entirety some time in November, and we'll be first to show it to you when it hits the Internets. Hit the jump to view BMW's 40 second teaser video, and make sure to turn up your speakers.

[Source: eGMCarTech]

Audi is taking a cautious approach to the market as sales grind down around the world. To do that, the four-ringed automaker plans to extend its Christmas shutdown, a funny way to celebrate Audi's best global sales year ever, anticipated to crest one million units.

While the luxury competition has struggled in the rough and tumble US market, Audi has seen sales gains, which is a big reason global sales are up 3.3% year over year. Audi has been so successful of late that it came within 100 units of (the much larger) Mercedes-Benz in global October sales, while BMW is also within 10,000 units. The new A4 sedan and wagon are helping matters, and the upcoming Q5 crossover is waiting in the wings to keep things interesting in 2009.

With all that good news, why cut back production? Audi Chief Executive Rupert Stadler called the German automaker's performance "increasingly influenced by declining markets." In other words, Audi wants to approach the global sales decline with the novel notion of cutting production before cars start sitting on dealer lots for months on end. Makes perfect sense to us.

[Source: Reuters]

The donut is one of the more worthless automotive exercises on the planet, but for some reason doing them gives us undeniable joy. One gentleman in the UK has perfected the donut to the point that of world record status. Russ Swift is already famous for automotive feats like the fastest-ever J-turn and the Guinness record for tightest parallel park. Now Swift has added the fastest time to complete ten donuts. Hit the jump to view Swift complete ten 360-degree turns in an Evo over a mere 16.07 seconds. As an added bonus, the folks at Guinness also added video of Mr. Swift's other record-setting automotive feats, which may be cooler than the donut record itself.

[Source: Zercustoms]